Crawford Fund Management LLC Reduces Holdings in Clearfield, Inc. (NASDAQ:CLFD)

Crawford Fund Management LLC trimmed its position in shares of Clearfield, Inc. (NASDAQ:CLFD) by 38.8% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,988 shares of the communications equipment provider’s stock after selling 32,375 shares during the quarter. Clearfield accounts for approximately 0.4% of Crawford Fund Management LLC’s investment portfolio, making the stock its 26th largest position. Crawford Fund Management LLC’s holdings in Clearfield were worth $1,986,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Quantbot Technologies LP purchased a new position in Clearfield during the third quarter worth $53,000. Redwood Wealth Management Group LLC purchased a new stake in shares of Clearfield during the second quarter valued at $75,000. Truvestments Capital LLC purchased a new stake in shares of Clearfield during the third quarter valued at $80,000. Canada Pension Plan Investment Board purchased a new stake in shares of Clearfield during the second quarter valued at $85,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Clearfield during the second quarter valued at $130,000. 88.73% of the stock is owned by hedge funds and other institutional investors.

Clearfield Stock Performance

CLFD opened at $29.98 on Friday. Clearfield, Inc. has a 52-week low of $24.78 and a 52-week high of $44.83. The company has a quick ratio of 6.69, a current ratio of 9.43 and a debt-to-equity ratio of 0.01. The company has a market cap of $428.41 million, a P/E ratio of -35.27 and a beta of 1.35. The firm’s 50-day moving average price is $35.24 and its 200-day moving average price is $37.40.

Clearfield (NASDAQ:CLFD) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.13. Clearfield had a negative net margin of 7.47% and a negative return on equity of 4.41%. The firm had revenue of $46.80 million for the quarter, compared to the consensus estimate of $41.95 million. During the same quarter in the prior year, the company posted $0.17 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. As a group, equities analysts anticipate that Clearfield, Inc. will post -0.05 EPS for the current fiscal year.

Analyst Ratings Changes

CLFD has been the subject of a number of research reports. Lake Street Capital raised shares of Clearfield from a “hold” rating to a “buy” rating and upped their price objective for the stock from $31.00 to $47.00 in a research note on Friday, August 2nd. Roth Mkm lowered their price objective on shares of Clearfield from $47.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $50.00 target price on shares of Clearfield in a report on Friday, November 8th. Northland Securities boosted their target price on shares of Clearfield from $40.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com downgraded shares of Clearfield from a “hold” rating to a “sell” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $46.75.

Clearfield Profile

Clearfield, Inc manufactures and sells various fiber connectivity products in the United States and internationally. The company offers FieldSmart, a series of panels, cabinets, wall boxes, and other enclosures; WaveSmart, an optical components integrated for signal coupling, splitting, termination, multiplexing, demultiplexing, and attenuation for integration within its fiber management platform; and active cabinet products.